When a tenant holds possession of a…

Xaamirr1
                When a tenant holds possession of a…

 

 

 

 

 

 

 

 

When a tenant holds possession of a landlord’s property without a definite lease term but with the consent of the landlord, this is called ___.

Question 41 options:

 

a) 

tenancy in common

 

b) 

tenancy at sufferance

 

c) 

tenancy at will

 

d) 

trespass.

 

Question 42 (1 point)

 

 

 

 

 

 

 

 

 

Utility companies that have rights to place electric lines, phone lines, cable TV, gas lines, etc. hold ___.

Question 42 options:

 

a) 

easements in gross

 

b) 

easements appurtenant

 

c) 

gross estates

 

d) 

servient estates

 

Question 43 (1 point)

 

 

 

 

 

 

 

 

 

An option ___.

Question 43 options:

 

a) 

requires the optionee to complete the purchase

 

b) 

gives the optionee an easement on the property

 

c) 

binds the optionor for a specified time

 

d) 

Makes the seller liable for a commission

 

Question 44 (1 point)

 

 

 

 

 

 

 

 

 

The key difference between police power and the power of eminent domain is that ___.

Question 44 options:

 

a) 

a property does not lessen in value when police power is exerted

 

b) 

in eminent domain, there is no appeal to a higher authority

 

c) 

under police power the owner is entitled to no compensation

 

d) 

eminent domain can only be used to further the public good

 

Question 45 (1 point)

 

 

 

 

 

 

 

 

 

All of the following are correct about contingencies EXCEPT ___.

Question 45 options:

 

a) 

they crea contract that is unenforceable

 

b) 

they must specify what is required to satisfy the contingency

 

c) 

they must identify who will pay for any costs involved

 

d) 

common contingencies include mortgage and inspection contingencies

 

Question 46 (1 point)

 

 

 

 

 

 

 

 

 

The people protected by mechanic’s liens include all of the following EXCEPT ___.

Question 46 options:

 

a) 

suppliers of materials

 

b) 

architects and engineers on construction projects

 

c) 

lenders

 

d) 

anyone who furnishes labor for construction, repair, or alteration of a building

 

Question 47 (1 point)

 

 

 

 

 

 

 

 

 

The primary purpose of a deed is to ___.

Question 47 options:

 

a) 

prove ownership

 

b) 

transfer title rights

 

c) 

give constructive notice

 

d) 

prevent adverse possession

 

Question 48 (1 point)

 

 

 

 

 

 

 

 

 

The creation, filing, priority, and termination of mechanic’s liens ____.

Question 48 options:

 

a) 

are the same for all of the 48 contiguous states

 

b) 

vary from state to state

 

c) 

are federal laws

 

d) 

are controlled by each individual city within a state

 

Question 49 (1 point)

 

 

 

 

 

 

 

 

 

As a result of the exercise of police powers, property owners receive ___.

Question 49 options:

 

a) 

fair market value compensation

 

b) 

just compensation

 

c) 

cost adjusted compensation

 

d) 

no compensation

 

Question 50 (1 point)

 

 

 

 

 

 

 

 

 

What is the name of the legal process used by a property owner who feels that his or her property has been effectively “taken” as a result of governmental action that has destroyed the property’s value and wishes to be compensated for the damages?

Question 50 options:

 

a) 

Adverse possession

 

b) 

Inverse condemnation

 

c) 

Restrictive covenants

 

d) 

Encroachment

 

Question 51 (1 point)

 

 

 

 

 

 

 

 

 

By which of the following do government entities have the authority to regulate how a private property owner can use his or her property?

Question 51 options:

 

a) 

Police power

 

b) 

Power of eminent domain

 

c) 

Power of taxation

 

d) 

Power of escheat

 

Question 52 (1 point)

 

 

 

 

 

 

 

 

 

A third party holds title to property on behalf of someone else through the use of a ___.

Question 52 options:

 

a) 

devise

 

b) 

quitclaim deed

 

c) 

bequest

 

d) 

deed in trust

 

Question 53 (1 point)

 

 

 

 

 

 

 

 

 

Broker Peder listed the Kleins’ property for sale under an exclusive-right-to-sell      agreement. Today, Toby, one of Peder’s salespeople, obtained a signed offer to purchase the property along with a certified check for 5 percent of the purchase price as earnest money.  What should Toby do with the earnest money check?

Question 53 options:

 

a) 

Give it to the Kleins.

 

b) 

Hold it until closing.

 

c) 

Deposit the money in his personal account.

 

d) 

Give the money to Peder for deposit in the brokerage trust account.

 

Question 54 (1 point)

 

 

 

 

 

 

 

 

 

The process of evaluating a prospective buyer’s ability to purchase a listed property is called ___.

Question 54 options:

 

a) 

negotiation

 

b) 

qualifying

 

c) 

presentation

 

d) 

agency

 

Question 55 (1 point)

 

 

 

 

 

 

 

 

 

Although ownership and possession of real estate are not synonymous, one might gain ownership by possession through ___.

Question 55 options:

 

a) 

zoning

 

b) 

easements

 

c) 

adverse possession

 

d) 

liens

 

Question 56 (1 point)

 

 

 

 

 

 

 

 

 

The burdened land in an easement appurtenant is the ___.

Question 56 options:

 

a) 

dominant estate

 

b) 

servient estate

 

c) 

absolute estate

 

d) 

artificial estate

 

Question 57 (1 point)

 

 

 

 

 

 

 

 

 

If you were the listing broker, which of the following types of listings would you least prefer?

Question 57 options:

 

a) 

Open listing

 

b) 

Exclusive-agency listing

 

c) 

Multiple listing

 

d) 

Exclusive right-to-sell listing

 

Question 58 (1 point)

 

 

 

 

 

 

 

 

 

Which of the following statements is untrue about brokers?

Question 58 options:

 

a) 

Brokers take ownership of the item being transferred (at least for a brief moment in time).

 

b) 

Brokers serve as an intermediary in a transaction.

 

c) 

Brokers often receive compensation in the form of a commission.

 

d) 

Brokers may represent prospective buyers or sellers of real estate.

 

Question 59 (1 point)

 

 

 

 

 

 

 

 

 

A deed must be signed by the ___.

Question 59 options:

 

a) 

grantor

 

b) 

grantee

 

c) 

grantor and grantee

 

d) 

grantee and two witnesses

 

Question 60 (1 point)

 

 

 

 

 

 

 

 

 

Public restrictions on ownership rights include all of the following EXCEPT ___.

Question 60 options:

 

a) 

property-tax liens

 

b) 

power of eminent domain

 

c) 

restrictive covenants

 

d) 

zoning